I think not. There’s no moving parts, very little chance of anything overheating or wearing out, as Apple doesn’t put new / hot chips in there.
It doesn’t get moved around a lot, and the connections don’t get a lot of plugging/unplugging.
In all of my experience with AppleTVs, going back to gen 1, suggests to me that you’re much more likely to want to replace it before you need to replace it.